13 NOVEMBER 2002

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BoV outlines 2002 – 2003 strategy

- actively looking at Egyptian market

"Maximisation of shareholder value is the yardstick that will spearhead BoV’s strategic initiatives for the financial year 2002 – 2003," Bank of Valletta Group Chairman Joseph FX Zahra said recently during a full-day strategy conference that was attended by the Group’s top management.

Zahra added that BoV would be working on nine major strategic projects over the coming financial year. Amongst these, he announced that the Bank was planning to offer a number of new products and to introduce new delivery channels over the coming months.

In terms of BoV’s internationalization strategy, Zahra revealed that following the opening of representative offices in Tunisia and Libya, the Bank is now looking actively at the Egyptian market. This would also provide a platform for BoV to seek new opportunities in the Gulf States.

Zahra reiterated that the financial year just ended was a positive one for BoV and that he considered the results achieved to be more than satisfactory.

He also commented that the positive way with which the market has reacted indicates that BoV has managed to exceed expectations.

Zahra concluded that the results have been achieved due to the implementation of a coherent and well-planned strategy for the entire Group.


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Editor: Saviour Balzan
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